Credit Officer II-Community Developement Banking
About The Position
This job is responsible for managing clients and related credit products, partnering closely with relationship management, sales/trading, treasury management, operations and risk teams to support the client relationship. Key responsibilities include underwriting, monitoring, managing operational needs and/or client requests. Job expectations include credit-focused client management responsibilities, independent thought leadership, strong leadership skills, the ability to provide feedback to less experienced teammates and may also manage a team. This job is responsible for serving as the primary credit relationship contact and maintaining ongoing relationships with credit clients. Key responsibilities include working with clients to design and execute credit solutions, leading new credit originations in collaboration with client management, credit risk, and syndications, and advising the Commercial Real Estate Banking portfolio management and asset management groups on any post closing credit actions as needed. Job expectations may include driving operational excellence and influencing leaders, peers, and client. CDB Credit Officers are responsible for the structuring of project finance transactions that include both tax credit equity and construction debt and bridge loans for the development of affordable housing. This role is a primary contributor to the Bank’s commitment to support low to moderate income individuals and communities in a profit with purpose model. The CO is typically an individual contributor who reports to the Senior Credit Manager. The CO holds credit approval authority. The CO maintains knowledge of other BofA products including Investment Banking and Treasury Management and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect.
Requirements
- 5+ years in a tax credit lending and investing related field, as well as demonstrated financial analysis experience
- Solid experience in financial analysis, structuring, underwriting and portfolio management, strong communication and analytical/technical skills, including financial accounting, modeling and loan structuring and documentation
- Familiarity with core banking products.
- Understanding of the regulations that govern Banking and CRE lending.
- Maintains knowledge of other banking products including Investment Banking, Interest Rate Hedging, and Treasury Management that have credit exposure, and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect.
- Requires expertise in the origination of tax credit equity investments as well as debt. Knowledge of tax program requirements, financial concepts and commercial real estate required.
Nice To Haves
- Credit trained,financial modeling proficiency, Credit Center proficiency, understanding of compliance and tax requirements; real estate and contract negotiation experience.
- Bachelor's Degree
Responsibilities
- Partners with relationship management and product partners to assess clients’ credit needs and create solutions
- Leads loan structure conversations and negotiates loan documentation with clients and internal/external legal partners
- Drives credit and risk approval processes for new credit originations, renewals, increases, and modifications
- Leads ongoing monitoring efforts for a portfolio of clients in compliance with regulations, policy and procedure
- Drives the growth of funded loans and revenue while mitigating risks, maintaining asset quality and adhering to regulatory requirements
- Serves as an escalation point for complex credit transactions
- Mentors and supports associates
- Leads the deal team for new originations, modification and structuring of Bank debt and equity
- Manages the underwriting of secured and unsecured transactions to Commercial Real Estate clients, including real estate secured construction and term debt, tax credit equity investments, unsecured corporate revolvers, bridge financing, commercial agency warehouse lines, and subscription lines
- Oversees underwriting once a credit opportunity is mandated, icluding the requisite due diligence, preparation of the approval request documents, receipt of final loan approval on a timely basis, and resolution of any due diligence/underwriting challenges in the loan closing process
- Leads new credit originations and structures loans in collaboration with the relationship coverage team, products partners, Risk, Syndications, and Treasury
- Manages the end-to-end process for loan and equity originations, modifications and extensions on existing loans including structuring, due diligence, gaining approval, and closing
- Engage legal counsel / oversee document review and closing process.
- Assists and advises the Commercial Real Estate Banking portfolio monitoring and asset management groups on any post closing actions, as needed
Benefits
- access to paid time off
- resources and support to our employees
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
